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PA Bulletin, Doc. No. 17-685

NOTICES

INSURANCE DEPARTMENT

Application and Request for Plan Approval of a Mutual-to-Stock Conversion and Subsequent Acquisition of Control of Saucon Mutual Insurance Company; Reopening of Public Comment Period to Review Amended Filing

[47 Pa.B. 2391]
[Saturday, April 22, 2017]

 The Insurance Department (Department) published notice of receipt of the application of Saucon Mutual Insurance Company (Saucon) at 44 Pa.B. 5948 (September 13, 2014) requesting approval of a Plan of Conversion which provided for conversion from a mutual property insurance company to a stock property insurance company. The notice also advised of the receipt of a request from Saucon Holding Company, a Pennsylvania domiciled stock corporation, for approval to acquire control of all of the capital stock of Saucon upon consummation of the previously-referenced conversion. Included within the request of Saucon Holding Company was the identity of three individuals anticipated to hold a controlling interest in Saucon Holding Company upon completion of the conversion and acquisition.

 The notice published at 44 Pa.B. 5948 afforded persons the opportunity to provide written comments on the filing to the Department for a period that expired on October 28, 2014. At the conclusion of a public informational hearing held by the Department on September 1, 2015, the Department announced that once the transcript is made available and after all questions and responses are compiled, the Department would reopen the matter for public comment for an additional 15-day period of time. On September 11, 2015, the Department posted on its web site the hearing transcript and Saucon's letter responding to the hearing commentary. Because of technical difficulties relating to the Department's web site migration, the Department extended the comment period until November 2, 2015.

 On April 3, 2017, the Department received amended documents to the proposed conversion and corresponding change of control of Saucon (Amended Filing). The Amended Filing is currently available on the Department's web site at www.insurance.pa.gov. After first scheduling an appointment, consumers may also view the amended documents at the Department's Harrisburg office, (717) 787-0877.

 The purpose of this notice is to reopen the public comment period to afford the public the opportunity to comment on the Amended Filing. Persons wishing to comment on the grounds of public or private interest are invited to submit a written statement on the Amended Filing to the Department. The public comment period will remain open for an indefinite period of time to afford persons ample opportunity to provide written comments on the Amended Filing to the Department. A subsequent notice will appear in the Pennsylvania Bulletin to announce the closing of the public comment period. Written statements must include the name, address and telephone number of the interested party; identification of the application to which the statement is addressed; and a concise statement with sufficient detail and relevant facts to inform the Department of the exact basis of the statement. Written statements should be directed to Cressinda Bybee, Company Licensing Division, Insurance Department, 1345 Strawberry Square, Harrisburg, PA 17120, fax (717) 787-8557, cbybee@pa.gov.

 Comments received will be part of the public record regarding the filing and will be made available on the Department's web site. Additionally, copies of the comments received will be forwarded to the applicant for appropriate response. The applicant's responses will also be made available on the Department's web site.

TERESA D. MILLER, 
Insurance Commissioner

[Pa.B. Doc. No. 17-685. Filed for public inspection April 21, 2017, 9:00 a.m.]


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